Montanaro Asset Management Ltd Sells 14,600 Shares of Badger Meter, Inc. (NYSE:BMI)

Montanaro Asset Management Ltd decreased its position in Badger Meter, Inc. (NYSE:BMI) by 21.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 53,450 shares of the scientific and technical instruments company’s stock after selling 14,600 shares during the quarter. Badger Meter comprises approximately 2.3% of Montanaro Asset Management Ltd’s investment portfolio, making the stock its 19th largest position. Montanaro Asset Management Ltd’s holdings in Badger Meter were worth $11,338,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in shares of Badger Meter in the 4th quarter worth about $20,586,000. Congress Asset Management Co. boosted its stake in Badger Meter by 23.1% during the fourth quarter. Congress Asset Management Co. now owns 363,164 shares of the scientific and technical instruments company’s stock worth $77,034,000 after acquiring an additional 68,137 shares in the last quarter. Perpetual Ltd purchased a new stake in Badger Meter in the fourth quarter worth about $10,462,000. Vanguard Group Inc. increased its stake in shares of Badger Meter by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 3,841,879 shares of the scientific and technical instruments company’s stock valued at $814,939,000 after purchasing an additional 44,839 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of Badger Meter by 348.5% during the third quarter. Barclays PLC now owns 55,090 shares of the scientific and technical instruments company’s stock valued at $12,034,000 after purchasing an additional 42,806 shares during the last quarter. Institutional investors own 89.01% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Maxim Group upped their price target on Badger Meter from $235.00 to $245.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Stifel Nicolaus boosted their target price on Badger Meter from $208.00 to $209.00 and gave the stock a “hold” rating in a report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $218.75.

Badger Meter Stock Performance

Shares of NYSE BMI opened at $192.37 on Thursday. The firm’s 50 day moving average price is $209.46 and its 200-day moving average price is $213.65. Badger Meter, Inc. has a 52-week low of $151.18 and a 52-week high of $239.11. The company has a market cap of $5.66 billion, a PE ratio of 45.48, a P/E/G ratio of 3.89 and a beta of 0.83.

Badger Meter (NYSE:BMI) last released its quarterly earnings data on Friday, January 31st. The scientific and technical instruments company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.03. Badger Meter had a return on equity of 21.77% and a net margin of 15.12%. On average, analysts forecast that Badger Meter, Inc. will post 4.65 earnings per share for the current fiscal year.

Badger Meter Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date was Friday, February 28th. Badger Meter’s payout ratio is currently 32.15%.

Insider Activity at Badger Meter

In other news, CEO Kenneth Bockhorst sold 16,073 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $209.74, for a total transaction of $3,371,151.02. Following the sale, the chief executive officer now owns 34,961 shares of the company’s stock, valued at $7,332,720.14. This trade represents a 31.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP William R. A. Bergum sold 2,416 shares of Badger Meter stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $210.33, for a total transaction of $508,157.28. Following the completion of the sale, the vice president now owns 14,199 shares of the company’s stock, valued at $2,986,475.67. This represents a 14.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,949 shares of company stock valued at $4,398,407 over the last ninety days. Insiders own 0.80% of the company’s stock.

About Badger Meter

Badger Meter, Inc manufactures and markets flow measurement, quality, control, and communication solutions worldwide. It offers mechanical or static water meters, and related radio and software technologies and services to municipal water utilities market. The company also provides flow instrumentation products, including meters, valves, and other sensing instruments to measure and control fluids going through a pipe or pipeline, including water, air, steam, and other liquids and gases to original equipment manufacturers as the primary flow measurement device within a product or system, as well as through manufacturers' representatives.